7 Thoughts on Adding family member to my credit card account & our credit scores?
  1. Reply
    August 26, 2011 at 7:53 am

    I think this was a major tactic that was utilized in the early 2000’s to get people with bad credit into good credit (it was a business scam type deal). It’s been a couple of years, and I wonder if CC companies even allow it anymore.

  2. Reply
    August 26, 2011 at 8:51 am

    an authorized user does not affect your credit as long as you pay your bills
    An authorized user does not see an increase in their credit rating

  3. Reply
    August 26, 2011 at 9:23 am

    They are just an authorized user on YOUR account. Their credit score does not impact your score at all. They will see an increase in their score as your file is reported on their credit as well.

    If you are only doing it for the score, I would simply add them as a user but not give them a card.

    A few years ago, there were companies that would charge people to get them added as authorized users and it wasn’t so hot. As long as you are legit, they will see a benefit for doing it.

  4. Reply
    August 26, 2011 at 10:15 am

    Not currently. It used to, many, many years ago. It no longer does. They changed the rules, many years ago.

  5. Reply
    August 26, 2011 at 11:04 am

    Their score will not affect yours at all as long as your bills are paid as agreed.

    The thing about authorized users is it depends on what the relationship is when it comes to how much help they will get.

    Back in 2008 F.I.C.O. changed the way they calculate authorized users scores, if the A.U. is either a spouse or a child they get the same credit for the account as the primary doe’s, but if they are any other relation then those they still get some credit just not as much.

    If it’s score alone that you doing this for, I would not actually give this family member the card. Remember authorized users have full access to your account and are not responsible for paying any of the debt

    Good luck whatever you decide.

  6. Reply
    August 26, 2011 at 11:14 am

    many accounts where this person is an authorized user will have little to no effect on their scores but gives them access to charge on your accounts with no responsibility to pay. Now making them a co maker on the account will boost their scores but they will have to sign responsibility papers and that will increase their scores. Know this once a co maker the bank will never release them from the account as it is always better for them to have more responsible parties to go after in the case of default. Many credit card companies will not report authorized user to the credit files

  7. Reply
    Classy Granny
    August 26, 2011 at 12:02 pm

    Neither. Adding someone to your credit card makes them an authorized user and that is all. They can’t get a credit boost because you are the peron who’s name is on the account. If your added user racks up a bill you are responsible if they can’t pay

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